Andhra Pradesh: New Guaranteed Pension Scheme (GPS)

Andhra Pradesh: New Guaranteed Pension Scheme (GPS) mind map
  Context
    Andhra Pradesh GPS Bill 2023
  Introduction reason
    Criticism of NPS
    Negative fiscal impact of OPS
  Comparison of schemes
    Old Pension Scheme (OPS)
      Pension Guarantee
        Fixed pensions
      Contribution
        Funded through budget
      Pension Amount
        Based on salary and service length
      Fiscal Impact on States
        Unsustainable growth in liabilities
    New Pension Scheme (NPS)
      Pension Guarantee
        Returns based on market condition
      Contribution
        Employee and employer contributions
      Pension Amount
        Variable, dependent on corpus returns
      Fiscal Impact on States
        Fiscally sustainable
    Guaranteed Pension Scheme (GPS)
      Pension Guarantee
        Fixed pension component
      Contribution
        10% basic salary contribution
        State government matching
      Pension Amount
        50% of last drawn basic salary
      Fiscal Impact on States
        Government funds NPS return shortfall
  States contemplating return to OPS
    Chhattisgarh
    Rajasthan
    Himachal Pradesh
    Punjab
    Delhi
  Future potential
    Hybrid model like GPS

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